FIA arrests 2 in Lahore over 'illegal' currency exchange, another 2 for copyright violations

The Federal Investigation Agency (FIA) said on Sunday that its Lahore unit has arrested four suspects during separate raids for their alleged involvement in hawala/hundi operations and violations of the Copyright Act.

An FIA spokesperson told the media that the raids were conducted by the agency’s Lahore Corporate Crime Circle at different locations in the provincial capital. Two suspects were arrested for allegedly running illegal currency exchange and hawala/hundi businesses.

During the operation, FIA recovered cash worth Rs20.4 million from the suspects, as well as foreign currency, including $1,080, AU$320, AED4,015, £85 and 160 Saudi riyals. Documentary records and digital evidence related to hawala/hundi transactions were also recovered from the suspects’ possession.

In separate actions, FIA arrested two other suspects for their alleged involvement in violations of the Copyright Act, 1962. The suspects were found to be in possession of a large quantity of counterfeit products of well-known registered companies.

The spokesperson said the suspects were allegedly involved in stocking and selling falsely branded products. Further investigation into the cases was underway.

Last month, the FIA arrested two suspects for their alleged involvement in hawala/hundi and copyright violations.

The interior ministry, in collaboration with the finance ministry, in March announced a massive crackdown on money-laundering and hawala-hundi networks across the country.

In a meeting in January, Interior Minister Mohsin Naqvi made it clear that the hawala/hundi business would not be tolerated under any circumstances, and directed the officials that indiscriminate action must be visibly ensured.